The upgrade is a significant seal of approval for Apple, which has struggled to retain its pioneering reputation amid smartphone saturation and a stalling of innovative and fewer groundbreaking features across the market.

The tech giant has retained its position as the most coveted brand but sales and profits last year slipped. However, it returned to its record breaking ways last month, selling 78.3m iPhones over the holiday period, smashing analyst estimates, signalling a return to form.

And Goldman thinks that form will continue and innovation will make a comeback, saying it expects what's likely to be the iPhone 8 a "significant step-up" compared to its previous two models, the iPhone SE and iPhones 7 and 7 Plus, even if the latter did break records.